You are here

US home builder sentiment near decade high in September: NAHB

US homebuilder sentiment rose in September to its highest in nearly a decade as traffic from potential buyers gained ground, the National Association of Home Builders said on Wednesday.

PHOTO: AFP

[NEW YORK] US homebuilder sentiment rose in September to its highest in nearly a decade as traffic from potential buyers gained ground, the National Association of Home Builders said on Wednesday.

The NAHB/Wells Fargo Housing Market index rose to 62 from 61 in August, the group said in a statement, the highest reading since October 2005. It was also slightly above economists' expectations for a reading of 61, according to a Reuters poll.

Readings above 50 indicate more builders view market conditions as favourable than poor. The index has not been below 50 since June 2014.

"NAHB is projecting about 1.1 million total housing starts this year," NAHB Chief Economist David Crowe said in a statement.